Brussels, 16/11/2015 (Agence Europe) - On Monday 16 November, the Council of the EU gave its green light to the launch of negotiations for a free trade agreement between the EU and the Philippines.
The Council's press office says in a press release that, as in all trade negotiations conducted by the EU with a third country or with a regional bloc, these talks will be piloted on the European side by the Commission - in consultation with the Council's trade policy committee. The Council calls for an “ambitious approach” in these talks, and the member states have authorised the European Commission to start negotiations in areas that fall within their competence, the Council press office adds. The decision was taken without debate at the meeting of the Agriculture Council on Monday.
In April 2007, the Council authorised the Commission to negotiate a free trade agreement with the Association of Southeast Asian Nations (ASEAN), of which the Philippines is a member. Despite the bloc to bloc negotiations being put on ice in December 2009, the EU decided to continue negotiations with individual ASEAN countries on a case-by-case basis. The strategic objective of a bloc to bloc free trade agreement was nevertheless maintained (see EUROPE 11303). In October 2013, the Council extended the scope of its negotiating directives to include investment protection.
The EU has already concluded free trade agreements with two ASEAN countries - Singapore and Vietnam - and similar negotiations are under way (although on ice) with two other countries in the bloc - Malaysia and Thailand. The EU is also negotiating an investment agreement with Burma/Myanmar.
Bilateral EU-Philippines relations are governed by a partnership and cooperation agreement signed in July 2012, which provides for deepening political dialogue on peace, international security and human rights, for strengthening economic and trade links, and for collaborating more closely on issues such as migration and energy (see EUROPE 10654).
The EU is the Philippines' third biggest trading partner and its top investor. Bilateral trade in goods reached €12.5 million in 2014 (€6.8 million in exports for the EU and €5.7 million in exports for the Philippines). (Original version in French by Emmanuel Hagry)